According to market players, buyers await for placing orders as
market is unpredictable at this point of time. Though, some momentum can be seen
after Steel Futures rebound over 400 points.
Mandi Gobindgarh: “Billet price
increase by Rs 200/MT in line with rise in Ingot price”, said a trader.
Raipur, Rourkela, Mumbai, Jaipur and Ahmedabad: Market
participants inform about marginal increase of Rs 100/MT as market conditions have not shown much changes.
Kolkata and Durgapur: “Billet
correct by Rs 200/MT on weak market sentiment and not on reasons relating
demand”, said manufacturers.
Jalna, Goa and Chennai: “On account
of decent buying volumes, manufacturers kept offers same at previous trade
prices”, said sources.
Kandla and Bhavnagar: “Buyers are
not in a hurry to place booking orders. They wait to see if Billet offers come
down further on falling Steel Futures”, a trader remarked.
Hyderabad: “Ban imposed on mining of Sand
continues and demand for finished steel products remains poor. On account of
this, Billet price reduced by Rs 500/MT” remarks a manufacturer.
Experts feel that new contract on NCDEX Steel Long might show
further direction to market.
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